◆ Gold prices have inched 0.3% higher today as a sharp drop of nearly 2% yesterday has attracted bargain hunters
◆ Gold tested support at $1,500/oz after another peculiar sell off in the futures market saw prices fall $30 in two hours on the COMEX yesterday with most of the selling coming after European and London markets had closed
◆ The sell off came despite robust demand for gold globally as seen in the world’s largest gold ETF seeing yesterday, in just one day, its holdings rise 1.81% to 924.94 tonnes
◆ The smart money continues to diversify into gold due to the concerns about the outlook for risk assets
◆ Prudent money is moving to the safety of fully segregated gold coin and bar ownership outside of large debtor nations and the vulnerable global banking system (see Jim Rogers interview below)
NEWS and COMMENTARY
Gold gains ground on bargain hunting, stronger dollar caps gains
Gold falls 1.8% on firmer dollar, U.S. stock gains
Eco ‘gold mine of the future’ has arrived in Canada
Gold backing off, chart does not look overly bearish – Ira Epstein Update
Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)
25-Sep-19 1530.85 1528.75, 1231.11 1234.62 & 1391.24 1391.77
24-Sep-19 1520.25 1520.65, 1220.76 1216.67 & 1382.36 1381.36
23-Sep-19 1519.50 1522.10, 1222.13 1225.90 & 1385.48 1385.11
20-Sep-19 1504.10 1501.90, 1199.07 1203.62 & 1361.06 1362.52
19-Sep-19 1498.40 1500.70, 1200.67 1201.76 & 1354.85 1357.08
18-Sep-19 1502.20 1503.50, 1206.27 1204.90 & 1360.39 1359.92
17-Sep-19 1499.30 1502.10, 1208.89 1207.24 & 1361.51 1360.45
16-Sep-19 1502.05 1497.20, 1207.35 1203.30 & 1357.25 1359.46
13-Sep-19 1506.30 1503.10, 1209.41 1208.19 & 1356.88 1358.35
12-Sep-19 1502.95 1515.20, 1219.94 1227.46 & 1362.88 1373.53
11-Sep-19 1493.65 1490.65, 1208.21 1209.07 & 1354.74 1355.90
Hard currencies are outperforming the dollar, euro, pound & all digital fiat currencies.
Source: Bloomberg via James Henry Anderson @jameshenryand
